Reached this milestone in less than a year of the launch of 'Roshni Home Loans'
FinTech BizNews Service
Mumbai, December 6, 2023: PNB Housing Finance, one of the largest housing finance companies in India, today announced a significant milestone in its affordable housing segment Roshni - hitting ?1,000 crore loan book in less than a year of its launch. This achievement represents the Company’s steadfast focus on financial inclusion by offering low ticket-size loans ranging from ?5-35 lacs for home buying, plot purchases, construction & renovation, etc.
Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, stated, “We are thrilled and proud to have achieved this milestone of ?1,000 crores loan book under Roshni within a year, reflecting the trust and confidence that consumers have placed in us. There is a strong demand of affordable housing in the country, owing to the rapid rate of urbanization, growing younger population, increasing per capita income and higher demand of housing units beyond the metro cities. We are aligned with the government’s mission of Housing for All, and are committed to fulfilling the home ownership dreams of individuals from all walks of life.”
Roshni Home Loans offers loans to individuals, focusing on the salaried class and self-employed, along with new-to-credit applicants. It provides a customer-centric approach, characterized by tailored financial products, innovative technology and seamless experiences, to meet the unique needs of individuals seeking affordable housing finance solutions. Customers can also enjoy additional features like flexible loan tenure, minimal income documentation, robust service delivery mode, suitable loan-to-value ratio and competitive interest rates. The Company has set up dedicated sales, credit and underwriting teams to ensure enhanced efforts to grow this segment.
PNB Housing Finance recently inaugurated its 100th Roshni branch in India, also its first-ever all-women branch, thus cementing its position as a leader in the affordable housing category. It plans to strengthen its distribution network by opening 60 more branches in Tier 2 & 3 cities, taking the total number of Roshni branches to 160 by the end of FY24. PNB Housing Finance also plans to expand its presence in the ‘Prime’ retail loans offering with a total of 138 branches by FY24. With this, the Company is expected to have close to 300 branches to cater to the growing retail segment, including affordable and prime by the end of the financial year.
About PNB Housing Finance
PNB Housing Finance Limited (NSE: PNBHOUSING, BSE: 540173) is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The Company was listed on the Indian stock exchanges on 07 November 2016. The Company’s asset base comprises retail loans and corporate loans. The retail business focuses on mass housing segment financing for the acquisition or construction of houses. In addition, it also provides loans against properties and loans for the purchase & construction of non-residential premises. PNB Housing Finance is a deposit-taking Housing Finance Company.
